Marks & Spencer has topped a survey ranking the 10 companies with the best reputation, published by the CBI today.

UK consumers are willing to pay more for a product or service if they perceive the company to have a strong reputation. The survey found that48 per cent of respondents cited good customer service as the most important grounding for companies to build their reputation on.

John Lewis, Tesco, Asda and Amazon were also featured in the list of top 10 most reputable UK companies.

CBI director-general Richard Lambert said: “What comes through in our survey is that great reputations rest or fall on delivery. Environmental credentials and social responsibility are also becoming increasingly important to consumers’ purchasing decisions.”